Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Also, on December 15 , Monson sells 25 units for $25 each. Required: Monson selis 25 units for $25 each on December 15 . Monson uses a perpefual inventory system Determine the costs assigned to the December 31 ending inventory when costs are assigned based on Lifo